January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of…
January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of…
January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1,…
January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new…
January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. …
January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain…
January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1…
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December 31: The government has reopened application for the post of chairman of Securities Board of Nepal…
December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hilly and mountainous areas in Gandaki and Province…
December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets…
December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank…
December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days.…
December 31: The high demand for electricity due to increasing cold has affected the power supply across the…
December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers said that limitations of the system of the service provider has caused inconvenience to the service seekers, especially those who have to pay more than Rs 2 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, vice-president of the Birgunj Chamber of Commerce and Industry, said that the system implemented at the dry port customs for the first time needs to be improved to make the customs clearance hassle free. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal informed that the officials of the customs department have been informed about the problems. Through this system, users can pay revenue through Connect IPS, Mobile App, Corporate Pay, NHCL Bank Center and LHCL of Nepal Clearing House. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the traders, there is more problem in paying through corporate pay under this system. This system has to be used to pay more than Rs 2 million revenue. Rajpal said that as the payment through corporate pay after 2 pm is deposited in the account of the customs department the next day only, it takes one day more for customs clearance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that as it is not possible to pay more than Rs 2 million through other means, it takes more time to check out the goods and this will increase the cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They also complained that corporate pay is functional only till 12 noon on Friday and there will be no payment on Saturday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal claims that earlier, the payment work could be done for 365 days till 6. But now, as the working time has decreased, he claims that the expense will increase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs department is planning to implement the system in all the customs offices across the country from January 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the association Pradip Kumar Kedia has suggested that the system should be implemented only after improving the drawbacks as problems were seen during the trial phase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Lal Bahadur Khatri said that the customs department has discussed with the service seekers for the facilitation and the customs administration is making efforts for resolve the problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14326', 'image' => '20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2022-01-02 15:13:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14582', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank appoints Gorakh Rana as Deputy CEO ', 'sub_title' => '', 'summary' => 'January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the bank, Rana has banking experience spanning over 27 years with a deep knowledge of Nepal’s banking industry. Rana has been representing Standard Chartered in several industries and regulatory forums.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He started his career through retail banking in 1994 and has served in positions ranging from relationship manager, senior credit manager, head of client coverage and head of global banking and commercial banking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides the post of deputy CEO, Rana is still the head of customer liaison, corporate, commercial and institutional banking in Nepal, according to a statement issued by the bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14325', 'image' => '20220102022916_1640956166.jpg', 'article_date' => '2022-01-02 14:28:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14581', 'article_category_id' => '1', 'title' => 'Nepal Airlines Plans to Purchase 32 Aircraft in 5 Years', 'sub_title' => 'Government gives Green Signal to Purchase 14 New Aircraft', 'summary' => 'January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale confirmed that he has already instructed the NAC officials to take forward the procurement of at least 14 aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister made such remarks while inaugurating the 23rd anniversary of the Civil Aviation Authority of Nepal (CAAN) on Friday (December 31).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Ale <span style="font-family:"Arial Unicode MS","sans-serif"">added that he has also asked the NAC to fly the grounded aircraft after repair and maintenance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Nepal Airlines Corporation (NAC) had recently unveiled its plan to purchase 32 new aircraft in five years which is subject to government approval.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Newly-appointed Executive Chairman of the state-owned airline company submitted a five-year strategic plan in this regard to Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale in the third week of December last year, sources said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the strategic plan, NAC will operate 14 new aircraft for international flights if the government releases budget. According to NAC, 18 aircraft will be used for domestic flights in accordance to the plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to inside sources, NAC is planning to purchase six wide-body aircraft and eight narrow-body aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The cash-strapped airline company has also demanded Rs 15 billion from the government for revitalizing the flag carrier of Nepal which is currently reeling under financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">It may be noted that NAC is facing an additional financial burden due to its inability to operate and manage six of its Chinese aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC owns six Chinese aircraft including two MA 60 and four Y-12E. The aircraft were bought for domestic flights. Nepal received one MA 60 and one Harbin Y-12E each as grant from the Chinese government. Similarly, Nepal's national flag carrier had purchased an additional MA 60 aircraft and three Harbin Y-12E aircraft from the Chinese aircraft manufacturer Avic International on concessional loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC incurred heavy financial losses while operating the Chinese aircraft due to load penalties, insurance, short-supply of spare parts, expensive parts, expensive simulator training cost among various other factors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC had been operating the Chinese aircraft for domestic flights since 2016.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC decided to stop using Chinese aircraft from July 30 after incurring losses regularly.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14324', 'image' => '20220102021803_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2022-01-02 14:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14579', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Increases to 70.5 Percent: Study', 'sub_title' => '', 'summary' => 'January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. The Industrial Status Report released by the Confederation of Nepalese Industries (CNI) shows that the capacity utilization of the industries has significantly improved in the first quarter of the current fiscal year compared to the last quarter of the previous fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, Nepali industries have utilized 70.5 percent of their total capacity till the first quarter of the current fiscal year, up from 64.8 percent in the last quarter of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report titled 'Industrial Status Report' was released by Arjun Prasad Pokharel, secretary at Ministry of Industry, Commerce and Supplies. This is the second edition of the Industrial Status Report published by CNI. The report is based on survey of 62 industries of the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The latest report shows the revenue of industries has also improved. The industries have witnessed the revenue growth of 41.15 percent in terms of income in the review period of the current fiscal year compared to the same period of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report states that 61.8 percent of the industries still depend on generators for energy which has increased the cost of the industries by five percent on a monthly basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the review period, agriculture industries have paid interest of 8.7 percent, energy industry, manufacturing industry and service industry have paid interest of 7.7 percent, 8.7 percent , and 8.2 percent respectively which is higher compared to the last fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, manufacturing industries have borrowed 54.1 percent of their working capital from banks and financial institutions. Among the industries which participated in the study, 61.7 percent stated they were ready for new investment. In the review period of the last year, 83 percent of industries were looking for new investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Meanwhile, 30.8 percent of the sampled manufacturing industries exported their goods in the first quarter of the current fiscal year, which mostly belonged to manufactured foods and textiles.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, 90 percent of the industries that applied for the Business Continuity Loan received it while 57.1 percent of industries received a refinance loan. The surveyed industries are generating employment to 22,343 people. In the review period, the service-oriented industry has generated 67.4 percent new employment opportunities followed by manufacturing industries with 25.3 percent. The share of Nepali workers in the industries surveyed stands at 94.8 percent, with the manufacturing sector having the lowest share of 90.1 percent. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Speaking at the program, Pokharel said that research conducted by the private sector would help the government in formulating policies. He said that the government would move hand in hand with the private sector for industrial development. He also expressed commitment to make necessary policy arrangements for the promotion of domestic industries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secretary Pokharel said that the government has emphasized on the promotion of innovative industries. Bishnu Kumar Agrawal, chairman of CNI, stressed on the need to formulate regional policies for industrialization and its implementation. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14323', 'image' => '20220102012710_20190201015612_sej pic (2).jpg', 'article_date' => '2022-01-02 13:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14580', 'article_category_id' => '1', 'title' => 'Government Orders Quarantine for Asymptomatic Travelers', 'sub_title' => '', 'summary' => 'January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In a letter sent to the subordinate agencies regarding the implementation of the Cabinet decisions of December 24, the Ministry of Home Affairs recently ordered to allow the entry of travelers who are fully-vaccinated at least 14 days before their arrival, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The asymptotic travelers whose 72-hours PCR tests come out negative have to be quarantined for 10 days after they enter Nepal. These rules apply for Nepali citizens and diplomatic officials as well as foreigners obtaining residential visas, RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Nepali nationals with partial vaccination or those arriving in Nepal in less than 14 days of vaccination will have to undergone antigen tests at the entry points. Those testing positive in the antigen test will be sent for quarantine, the letter further states. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such measures have been taken in the wake of Omicron variant which has been increasing in neighbouring India and some other countries. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14322', 'image' => '20220102014543_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-01-02 13:44:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14578', 'article_category_id' => '1', 'title' => 'Industrial Park Struggle Committee Submits Memo to CM Rai ', 'sub_title' => '', 'summary' => 'January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the distribution of compensation was not fair and was not determined through scientific means, Damak Industrial Park Struggle Committee reached the Chief Minister's office at Biratnagar and submitted the memo to CM Rajendra Rai to address their demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Coordinator of the Struggle Committee, Khagendra Bhattarai shared that they drew the attention of CM Rai about the real problems of the people displaced by the industrial park along with the demands of the victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/ddd.jpg" style="height:190px; width:492px" /></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Receiving the memo, CM Rai expressed commitment to take this matter to higher authorities in order to address their concerns. The Nepal-China Friendship Industrial Park was proposed to be constructed in around 2,500 bighas of land in a tri-junction of Damak Municipality, Kamal Rural Municipality and Gauradaha Municipality of Jhapa district with an investment of around Rs 65 billion from the Chinese government under the 'One Belt One Road' initiative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Locals affected by the industrial park have expressed their discontent and subsequently launched agitation by forming a struggle committee. <em>(With inputs from RSS) </em></span></span></p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14321', 'image' => '20220102103849_park.jpg', 'article_date' => '2022-01-02 10:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14577', 'article_category_id' => '1', 'title' => 'Guna Airlines to Operate Kathmandu-Surkhet Flights from Today', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: Guna Airlines has started commercial flight between Kathmandu and Surkhet from Sunday, January 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company announced flights to additional destinations with the onset of New Year 2022. As of now, only Buddha Air has been operating flights along the Kathmandu-Surkhet route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airline company confirmed that an 18-seater aircraft of Guna Airlines would begin its service from January 2. The air fare for Kathmandu-Surkhet flight has been reportedly fixed between Rs 8,545 to Rs 11,420. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the airlines will operate flights to Surkhet from Kathmandu at 8:00 am and the return flight at 9:50 am every day. The company added that the Kathmandu-Surkhet flights will be operated at 2:30 pm and the return flight at 3:50 pm effective from January 10. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14320', 'image' => '20220102080003_20210917023632_1625905050248 (1).jpg', 'article_date' => '2022-01-02 07:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14576', 'article_category_id' => '1', 'title' => 'Nepal’s Dependency on Imported Maize Seeds Increasing', 'sub_title' => 'Seeds worth Rs 7 billion imported in four months of current FY', 'summary' => '', 'content' => '<p><em>A women collecting maize in mid-western hills of Nepal in this file photo. Maize seeds are mostly imported in Nepal in recent days. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 31: Nepal imported 196,045 metric tons of maize seeds of several varieties in the first four months of the current fiscal year starting from July 16. The imported seeds were worth Rs 6.91 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The data suggests that the import of maize seeds is increasing each year in the country, indicating the nation’s dependency on this major product. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Seeds Quality Control Centre’s senior crop development and information officer Prakash Acharya said the three-tier government failed to work collaboratively for the production of hybrid maize seeds at the local and community levels. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Before the country switched to federalism, the Nepal Agricultural Research Council (NARC) was responsible for the production of maize seeds while the production of hybrid seeds was taking place at the private and community level. But now, the production of hybrid seeds at the community level is almost zero. This is due to the lack of coordination and collaboration among the three tiers of governments. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Customs, the above mentioned quantity of maize seeds was imported from Argentina, Brazil, India, Canada, South Africa, Turkey and America and the highest import (worth over Rs 62, 5570, 0000) was from India alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize is the second major crop of Nepal after rice. It is used mainly in hill areas as it gets featured in the daily meal of the people residing in those areas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, maize can be widely processed into several food varieties like dhindo (typical Nepali food made from maize flour), porridge, and so on. It can be consumed as roasted corn, popcorn and boiled corn as well. Lately it is being used as animal feed in the country. Nepal annually imports 400,000 metric tons of maize as animal or poultry feeds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Findings of various research show that the smooth supply of improved seeds would help increase the production. The existing Prime Minister Agriculture Modernization Project has given priority to maize production. The project was launched in the fiscal year 2074-75 BS. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize farming is conducted in around 900,000 hectares of land in Nepal: 11 percent in high lands, 71 percent in mid-hills and 18 percent in the Terai plains. The annual production of maize is around 2,200,000 metric tons in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14319', 'image' => '20211231043244_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2021-12-31 16:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14574', 'article_category_id' => '1', 'title' => 'Application for SEBON Chairman Reopens', 'sub_title' => '', 'summary' => 'December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government had cancelled the previous selection committee and formed a new one, which issued a fresh notice seeking applications for the post of SEBON chairman within 15 days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the appointment of chairman of the board will be done through open competition, eligible Nepalis will be able to apply for the post through the Financial Sector Management and Cooperation Coordination Division of the Ministry of Finance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Securities Act 2063, qualified Nepali citizens with high moral character, at least a post graduate degree with 7 years of professional experience in securities market management, capital market development, finance, commerce, management or legal field can apply for the post.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Earlier, a three-member selection committee was formed for the appointment of the chairman of the board on October 5 by a ministerial-level decision. However, a cabinet meeting held on November 29 decided to form another committee. The decision has courted controversy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Vishwanath Poudel is the coordinator of the new selection committee. Secretary at Ministry of Finance Madhu Kumar Marasini and former chairman of Nepal Stock Exchange Jeevanath Dhital are the members of the selection committee formed under Poudel's coordination.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Executive Director of SEBON Neeraj Giri and Deputy Executive Director Dr. Navraj Adhikari, Former Chief Executive Officer of Nepal Stock Exchange Sitaram Thapaliya, Former Chairman of Insurance Board Chiranjeevi Chapagain, Former Executive Director of Nepal Rastra Bank Dr. Gopal Bhatt, former administrator of Employees’ Provident Fund Krishna Prasad Acharya had applied for the post of chairman of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, Hemant Basyal, Keshav Prasad Shrestha, Anil Shrestha, Ramesh Hamal, Jeevan Amgain and Ambika Lamichhane also applied for the post. As soon as the new process started, the applications of all the 12 candidates who had applied earlier to become the chairman of the board were rejected. Now they will have to re-apply.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board is without leadership after the dismissal of Bhishma Dhungana following allegations of his involvement in the share purchase scam of Sarbottam Cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14318', 'image' => '20211231041254_20160922121316_sebon.jpg', 'article_date' => '2021-12-31 16:12:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14573', 'article_category_id' => '1', 'title' => 'DHM Forecasts More Rainfall and Snow Again ', 'sub_title' => '', 'summary' => 'December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hilly and mountainous areas in Gandaki and Province 1. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hills and mountainous areas in Gandaki and Province 1. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At present, the country is experience the influence of the westerly low pressure system and the low pressure area over the eastern region of Uttar Pradesh and around Bihar in India, the Department of Hydrology and Meteorology said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department has urged the people residing in high hills and mountainous regions of Gandaki Province and Province 1 to take precautionary measures against cold since there is a possibility of light snowfall at one or two places of those provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The weather will be partly to generally cloudy in Province 1, Bagmati and Gandaki provinces, and partly cloudy in the rest of the provinces tonight. There is possibility of light snowfall at one or two places of the high hills and mountainous region of these places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest weather update issued by the department, the minimum temperature in Kathmandu Valley was 4.5 degrees Celsius and the maximum 13.5 degrees Celsius in the last 24 hours. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Jumla recorded the lowest temperature of minus 4.5 degrees Celsius and Biratnagar the maximum of 24.7 degrees Celsius throughout the country in the last 24 hours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14317', 'image' => '20211231025645_1640938254.himpat.jpg', 'article_date' => '2021-12-31 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14575', 'article_category_id' => '1', 'title' => 'NMB Bank secures USD 12 Million in Debt Investment from SIFEM', 'sub_title' => '', 'summary' => 'December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM). SIEFM has invested for the first time in Nepal with this deal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SIFEM and NMB Bank signed the investment deal on December 28. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Issuing a joint statement, Embassy of Switzerland in Nepal and NMB Bank stated that the investment by SIFEM will be used to lend funds to local Micro Small and Medium Enterprises (MSMEs), provide access to finance and contribute to the development of the financial sector, preserve jobs, and boost the resilience of the local economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal is a focus of Switzerland’s development cooperation. The cooperation between SIFEM and SDC by leveraging expertise and synergies between Swiss institutions to advance development in Nepal is an important milestone in Switzerland’s long standing partnership with Nepal,” the statement reads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement said that the deal further assures the commitment of NMB Bank towards acquiring diversified fund sources to bolster its unique brand of sustainable banking. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14316', 'image' => '20211231042016_NMB-Bank-SIFEM-Investment-scaled.jpg', 'article_date' => '2021-12-31 16:19:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14572', 'article_category_id' => '1', 'title' => 'Nabil Bank Preparing to Acquire Nepal Bangladesh Bank', 'sub_title' => '', 'summary' => 'December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB). Both Nabil and NBB have formed a merger committee to take the process forward. Rumors were circulating about the merger between these two banks for a long time but the process had not started. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board meeting of Nabil Bank held on Wednesday, December 29 formed a merger committee under the leadership of board member Uday Krishna Upadhyaya. The committee has initiated discussions regarding the merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, CEO of Nabil Bank informed that a merger committee has been formed to hold discussions with NBB. "However, we did not form the merger committee to specifically acquire Nepal Bangladesh Bank. Discussions are on while we are also approaching other banks for acquisition," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Bangladesh Bank has also formed a merger committee. "If agreement is reached between these two banks, a joint merger committee will be formed. After that, the process will move further ahead, "said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2019, Global IME Bank acquired 'A' class Janata Bank. Likewise, other 'A' class banks including Nepal Investment Bank and Himalayan Bank are also in the process of merger. Nabil Bank and Nepal Bangladesh Bank are also preparing for the big merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nabil Bank is invested by Chaudhary Group of Nepal while IFIC Bank of Bangladesh holds shares in NBB. Binod Chaudhary, chairman of Chaudhary Group had been trying to buy shares of IFIC Bank in NBB since last year but hadn't succeeded due to various obstacles. It is said that the central bank has now removed the hurdle. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> IFIC Bank is also preparing to exit the country by selling shares of NBB. The Chaudhary Group plans to buy shares and merge the bank with Nabil Bank. The merger between these two banks have been rumored for many months. Lack of agreement on the swap ratio was preventing the merger process. There has been some unofficial agreement on the swap ratio. The final decision will be made only after conducting an asset and liability study. It is said that both the banks have also taken the DDA process forward.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The share price of NBB had hit a positive circuit on Wednesday, December 30 after the news of merger came out. The share price increased by 9.8 percent to 402 per share on Wednesday. The share price of Nabil Bank is Rs. 1450 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14315', 'image' => '20211231023530_1640908364.Untitled-2.jpg', 'article_date' => '2021-12-31 14:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14571', 'article_category_id' => '1', 'title' => 'Snowfall Disrupts Telephone and Internet Services in Villages of Myagdi', 'sub_title' => '', 'summary' => 'December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. Ward Chairman Jhak Bahadur Chhantyal informed that the telephone and internet services of Nepal Telecom have been disrupted due to the continuous snowfall since Tuesday night. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“The village has been left without communication due to the snowfall. Repairs will be done after the weather clears up,” said Wardn Chair Chhantyal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the roofs of houses have turned white due to the snowfall in Sinkos river bank area of Dhaulagiri-4 Mudi. The roofs of the houses in the river bank, Sinkos and other settlements that fall under the Dhulagiri foot trail are covered by the snow. Even the trees are covered with a blanket of snow. Although the farmers are happy with the snowfall, those who rear cattle are in trouble as they are not able to manage grass for the livestock. The upper region of Myagdi received heavy snowfall on Wednesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Bal Bahadur BK of Mudi, the locals are facing great trouble after the snow got deposited over the house. Considered as the most rural area of the district, the village of Gurja is located at an altitude of 3,220 meters above the sea level. Gurja and the areas surrounding the village received heavy snowfall. People's life in the village has become difficult due to the snowfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Children and the elderly have been most affected by the snowfall. The movement of people has come to a halt as well in Deurali and Lulang rural municipalities due to snowfall. Up to four feet deep snow has been deposited in Gurja.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14314', 'image' => '20211231125433_maxresdefault.jpg', 'article_date' => '2021-12-31 12:53:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14570', 'article_category_id' => '1', 'title' => 'Electricity Distribution Affected due to Rise in Demand', 'sub_title' => '', 'summary' => 'December 31: The high demand for electricity due to increasing cold has affected the power supply across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: The high demand for electricity due to increasing cold has affected the power supply across the country. The supply system has been affected as the electricity demand has increased in the winter and the distribution system is not able to meet the demand.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the increase in demand for electricity during winter, the supply system has become chaotic due to problems such as the burning of transformer wires, blowing of fuses, and rupture of conductors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), the peak demand for electricity has been recorded at 1,699 MW since Tuesday due to bad weather.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The demand for electricity has increased since Tuesday due to the drop in mercury level. When the average demand for electricity was 1,700 MW on Tuesday evening, many places across the country faced power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Consumers in many places complained that electricity was not been restored as of Thursday evening. According to the NEA, the problem of power outages has occurred due to the inability to meet the increased demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has already started generating 2,000 MW of electricity.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Additional electricity of 3,000 MW is being generated from hydropower projects within the next 2-3 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, the dependence on the decades-old distribution system of the Nepal Electricity Authority has caused problem in consuming the electricity generated in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEA Executive Director Kulman Ghising has been warning that the power system could be affected at any time if additional transformers are not installed in the urban areas where there is high demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The peak demand on Tuesday is the highest ever recorded in the country. However, NEA spokesperson Suresh Bahadur Bhattarai said that both the demand and consumption of electricity may have decreased as the distribution lines remain disrupted even after repairs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that the demand for electricity has increased due to the cold spell across the country but they face problem in the distribution system when the demand reaches around 1,700 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Many distribution feeders have tripped. The conductors are broken. The fuses are on fire,” said Bhattarai, who is also the head of the dispatch center in Kalanki.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, about 30 million units of electricity were consumed in the country on Tuesday alone. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to NEA, the demand was met by importing 8.9 million thousand units from NEA projects, 4.5 million units from NEA subsidiaries, 9.4 million units from the private sector, and 7.1 million units from India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/4933057.jpg" style="height:500px; width:800px" /></span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14313', 'image' => '20211231124303_www.jpg', 'article_date' => '2021-12-31 12:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14569', 'article_category_id' => '1', 'title' => 'Private Sector has Ample Space for Development in Province 1: Chief Minister Rai', 'sub_title' => '', 'summary' => 'December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the government has a small-sized budget, CM Rai emphasized on the opportunities the private sectors can get in Province 1. CM Rai said that the provincial government wants support from the private sector and its collaboration for the development of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a workshop on long-term economic development, investment promotion and role of private sector, CM Rai said that he was ready to cooperate with the private sector. The workshop was organized by the Investment Authority of Province 1 on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai clarified that he was in favor of decentralized development. He said that only physical development has been given priority in the name of development. He added that no attention has been paid to the development of the human capital as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“All of the infrastructures have been centered in one place in the name of development. Expensive hospitals have been built in cities only. The rural areas are still relying on shamans and witch doctors,” said CM Rai adding, “Development activities should focus on the development of the people at the center while the government should not promote development that does not benefit the people.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai further said that the development model should be advanced in such a way that a certain percentage of the profit earned after the construction of large industrial and technically visible development structures should be spent in the respective areas. In addition, CM Rai emphasized on the need to construct only such a development structure that seems appropriate from the environmental point of view.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Dr Ram Prasad Ghimire, the Chief Secretary of the Province 1 Government said that the work done by the government should win the trust of the people as the aspirations of the people towards development have increased due to federalism.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-30', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14312', 'image' => '20211230051652_1640775856.cm rai.jpg', 'article_date' => '2021-12-30 17:16:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14583', 'article_category_id' => '1', 'title' => 'Limitations of Online Revenue Payment Delaying Customs Clearance at Dry Port', 'sub_title' => '', 'summary' => 'January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of goods. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers said that limitations of the system of the service provider has caused inconvenience to the service seekers, especially those who have to pay more than Rs 2 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, vice-president of the Birgunj Chamber of Commerce and Industry, said that the system implemented at the dry port customs for the first time needs to be improved to make the customs clearance hassle free. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal informed that the officials of the customs department have been informed about the problems. Through this system, users can pay revenue through Connect IPS, Mobile App, Corporate Pay, NHCL Bank Center and LHCL of Nepal Clearing House. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the traders, there is more problem in paying through corporate pay under this system. This system has to be used to pay more than Rs 2 million revenue. Rajpal said that as the payment through corporate pay after 2 pm is deposited in the account of the customs department the next day only, it takes one day more for customs clearance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that as it is not possible to pay more than Rs 2 million through other means, it takes more time to check out the goods and this will increase the cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They also complained that corporate pay is functional only till 12 noon on Friday and there will be no payment on Saturday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal claims that earlier, the payment work could be done for 365 days till 6. But now, as the working time has decreased, he claims that the expense will increase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs department is planning to implement the system in all the customs offices across the country from January 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the association Pradip Kumar Kedia has suggested that the system should be implemented only after improving the drawbacks as problems were seen during the trial phase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Lal Bahadur Khatri said that the customs department has discussed with the service seekers for the facilitation and the customs administration is making efforts for resolve the problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14326', 'image' => '20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2022-01-02 15:13:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14582', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank appoints Gorakh Rana as Deputy CEO ', 'sub_title' => '', 'summary' => 'January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the bank, Rana has banking experience spanning over 27 years with a deep knowledge of Nepal’s banking industry. Rana has been representing Standard Chartered in several industries and regulatory forums.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He started his career through retail banking in 1994 and has served in positions ranging from relationship manager, senior credit manager, head of client coverage and head of global banking and commercial banking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides the post of deputy CEO, Rana is still the head of customer liaison, corporate, commercial and institutional banking in Nepal, according to a statement issued by the bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14325', 'image' => '20220102022916_1640956166.jpg', 'article_date' => '2022-01-02 14:28:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14581', 'article_category_id' => '1', 'title' => 'Nepal Airlines Plans to Purchase 32 Aircraft in 5 Years', 'sub_title' => 'Government gives Green Signal to Purchase 14 New Aircraft', 'summary' => 'January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale confirmed that he has already instructed the NAC officials to take forward the procurement of at least 14 aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister made such remarks while inaugurating the 23rd anniversary of the Civil Aviation Authority of Nepal (CAAN) on Friday (December 31).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Ale <span style="font-family:"Arial Unicode MS","sans-serif"">added that he has also asked the NAC to fly the grounded aircraft after repair and maintenance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Nepal Airlines Corporation (NAC) had recently unveiled its plan to purchase 32 new aircraft in five years which is subject to government approval.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Newly-appointed Executive Chairman of the state-owned airline company submitted a five-year strategic plan in this regard to Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale in the third week of December last year, sources said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the strategic plan, NAC will operate 14 new aircraft for international flights if the government releases budget. According to NAC, 18 aircraft will be used for domestic flights in accordance to the plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to inside sources, NAC is planning to purchase six wide-body aircraft and eight narrow-body aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The cash-strapped airline company has also demanded Rs 15 billion from the government for revitalizing the flag carrier of Nepal which is currently reeling under financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">It may be noted that NAC is facing an additional financial burden due to its inability to operate and manage six of its Chinese aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC owns six Chinese aircraft including two MA 60 and four Y-12E. The aircraft were bought for domestic flights. Nepal received one MA 60 and one Harbin Y-12E each as grant from the Chinese government. Similarly, Nepal's national flag carrier had purchased an additional MA 60 aircraft and three Harbin Y-12E aircraft from the Chinese aircraft manufacturer Avic International on concessional loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC incurred heavy financial losses while operating the Chinese aircraft due to load penalties, insurance, short-supply of spare parts, expensive parts, expensive simulator training cost among various other factors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC had been operating the Chinese aircraft for domestic flights since 2016.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC decided to stop using Chinese aircraft from July 30 after incurring losses regularly.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14324', 'image' => '20220102021803_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2022-01-02 14:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14579', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Increases to 70.5 Percent: Study', 'sub_title' => '', 'summary' => 'January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. The Industrial Status Report released by the Confederation of Nepalese Industries (CNI) shows that the capacity utilization of the industries has significantly improved in the first quarter of the current fiscal year compared to the last quarter of the previous fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, Nepali industries have utilized 70.5 percent of their total capacity till the first quarter of the current fiscal year, up from 64.8 percent in the last quarter of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report titled 'Industrial Status Report' was released by Arjun Prasad Pokharel, secretary at Ministry of Industry, Commerce and Supplies. This is the second edition of the Industrial Status Report published by CNI. The report is based on survey of 62 industries of the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The latest report shows the revenue of industries has also improved. The industries have witnessed the revenue growth of 41.15 percent in terms of income in the review period of the current fiscal year compared to the same period of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report states that 61.8 percent of the industries still depend on generators for energy which has increased the cost of the industries by five percent on a monthly basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the review period, agriculture industries have paid interest of 8.7 percent, energy industry, manufacturing industry and service industry have paid interest of 7.7 percent, 8.7 percent , and 8.2 percent respectively which is higher compared to the last fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, manufacturing industries have borrowed 54.1 percent of their working capital from banks and financial institutions. Among the industries which participated in the study, 61.7 percent stated they were ready for new investment. In the review period of the last year, 83 percent of industries were looking for new investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Meanwhile, 30.8 percent of the sampled manufacturing industries exported their goods in the first quarter of the current fiscal year, which mostly belonged to manufactured foods and textiles.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, 90 percent of the industries that applied for the Business Continuity Loan received it while 57.1 percent of industries received a refinance loan. The surveyed industries are generating employment to 22,343 people. In the review period, the service-oriented industry has generated 67.4 percent new employment opportunities followed by manufacturing industries with 25.3 percent. The share of Nepali workers in the industries surveyed stands at 94.8 percent, with the manufacturing sector having the lowest share of 90.1 percent. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Speaking at the program, Pokharel said that research conducted by the private sector would help the government in formulating policies. He said that the government would move hand in hand with the private sector for industrial development. He also expressed commitment to make necessary policy arrangements for the promotion of domestic industries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secretary Pokharel said that the government has emphasized on the promotion of innovative industries. Bishnu Kumar Agrawal, chairman of CNI, stressed on the need to formulate regional policies for industrialization and its implementation. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14323', 'image' => '20220102012710_20190201015612_sej pic (2).jpg', 'article_date' => '2022-01-02 13:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14580', 'article_category_id' => '1', 'title' => 'Government Orders Quarantine for Asymptomatic Travelers', 'sub_title' => '', 'summary' => 'January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In a letter sent to the subordinate agencies regarding the implementation of the Cabinet decisions of December 24, the Ministry of Home Affairs recently ordered to allow the entry of travelers who are fully-vaccinated at least 14 days before their arrival, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The asymptotic travelers whose 72-hours PCR tests come out negative have to be quarantined for 10 days after they enter Nepal. These rules apply for Nepali citizens and diplomatic officials as well as foreigners obtaining residential visas, RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Nepali nationals with partial vaccination or those arriving in Nepal in less than 14 days of vaccination will have to undergone antigen tests at the entry points. Those testing positive in the antigen test will be sent for quarantine, the letter further states. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such measures have been taken in the wake of Omicron variant which has been increasing in neighbouring India and some other countries. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14322', 'image' => '20220102014543_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-01-02 13:44:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14578', 'article_category_id' => '1', 'title' => 'Industrial Park Struggle Committee Submits Memo to CM Rai ', 'sub_title' => '', 'summary' => 'January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the distribution of compensation was not fair and was not determined through scientific means, Damak Industrial Park Struggle Committee reached the Chief Minister's office at Biratnagar and submitted the memo to CM Rajendra Rai to address their demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Coordinator of the Struggle Committee, Khagendra Bhattarai shared that they drew the attention of CM Rai about the real problems of the people displaced by the industrial park along with the demands of the victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/ddd.jpg" style="height:190px; width:492px" /></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Receiving the memo, CM Rai expressed commitment to take this matter to higher authorities in order to address their concerns. The Nepal-China Friendship Industrial Park was proposed to be constructed in around 2,500 bighas of land in a tri-junction of Damak Municipality, Kamal Rural Municipality and Gauradaha Municipality of Jhapa district with an investment of around Rs 65 billion from the Chinese government under the 'One Belt One Road' initiative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Locals affected by the industrial park have expressed their discontent and subsequently launched agitation by forming a struggle committee. <em>(With inputs from RSS) </em></span></span></p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14321', 'image' => '20220102103849_park.jpg', 'article_date' => '2022-01-02 10:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14577', 'article_category_id' => '1', 'title' => 'Guna Airlines to Operate Kathmandu-Surkhet Flights from Today', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: Guna Airlines has started commercial flight between Kathmandu and Surkhet from Sunday, January 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company announced flights to additional destinations with the onset of New Year 2022. As of now, only Buddha Air has been operating flights along the Kathmandu-Surkhet route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airline company confirmed that an 18-seater aircraft of Guna Airlines would begin its service from January 2. The air fare for Kathmandu-Surkhet flight has been reportedly fixed between Rs 8,545 to Rs 11,420. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the airlines will operate flights to Surkhet from Kathmandu at 8:00 am and the return flight at 9:50 am every day. The company added that the Kathmandu-Surkhet flights will be operated at 2:30 pm and the return flight at 3:50 pm effective from January 10. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14320', 'image' => '20220102080003_20210917023632_1625905050248 (1).jpg', 'article_date' => '2022-01-02 07:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14576', 'article_category_id' => '1', 'title' => 'Nepal’s Dependency on Imported Maize Seeds Increasing', 'sub_title' => 'Seeds worth Rs 7 billion imported in four months of current FY', 'summary' => '', 'content' => '<p><em>A women collecting maize in mid-western hills of Nepal in this file photo. Maize seeds are mostly imported in Nepal in recent days. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 31: Nepal imported 196,045 metric tons of maize seeds of several varieties in the first four months of the current fiscal year starting from July 16. The imported seeds were worth Rs 6.91 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The data suggests that the import of maize seeds is increasing each year in the country, indicating the nation’s dependency on this major product. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Seeds Quality Control Centre’s senior crop development and information officer Prakash Acharya said the three-tier government failed to work collaboratively for the production of hybrid maize seeds at the local and community levels. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Before the country switched to federalism, the Nepal Agricultural Research Council (NARC) was responsible for the production of maize seeds while the production of hybrid seeds was taking place at the private and community level. But now, the production of hybrid seeds at the community level is almost zero. This is due to the lack of coordination and collaboration among the three tiers of governments. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Customs, the above mentioned quantity of maize seeds was imported from Argentina, Brazil, India, Canada, South Africa, Turkey and America and the highest import (worth over Rs 62, 5570, 0000) was from India alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize is the second major crop of Nepal after rice. It is used mainly in hill areas as it gets featured in the daily meal of the people residing in those areas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, maize can be widely processed into several food varieties like dhindo (typical Nepali food made from maize flour), porridge, and so on. It can be consumed as roasted corn, popcorn and boiled corn as well. Lately it is being used as animal feed in the country. Nepal annually imports 400,000 metric tons of maize as animal or poultry feeds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Findings of various research show that the smooth supply of improved seeds would help increase the production. The existing Prime Minister Agriculture Modernization Project has given priority to maize production. The project was launched in the fiscal year 2074-75 BS. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize farming is conducted in around 900,000 hectares of land in Nepal: 11 percent in high lands, 71 percent in mid-hills and 18 percent in the Terai plains. The annual production of maize is around 2,200,000 metric tons in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14319', 'image' => '20211231043244_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2021-12-31 16:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14574', 'article_category_id' => '1', 'title' => 'Application for SEBON Chairman Reopens', 'sub_title' => '', 'summary' => 'December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government had cancelled the previous selection committee and formed a new one, which issued a fresh notice seeking applications for the post of SEBON chairman within 15 days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the appointment of chairman of the board will be done through open competition, eligible Nepalis will be able to apply for the post through the Financial Sector Management and Cooperation Coordination Division of the Ministry of Finance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Securities Act 2063, qualified Nepali citizens with high moral character, at least a post graduate degree with 7 years of professional experience in securities market management, capital market development, finance, commerce, management or legal field can apply for the post.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Earlier, a three-member selection committee was formed for the appointment of the chairman of the board on October 5 by a ministerial-level decision. However, a cabinet meeting held on November 29 decided to form another committee. The decision has courted controversy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Vishwanath Poudel is the coordinator of the new selection committee. Secretary at Ministry of Finance Madhu Kumar Marasini and former chairman of Nepal Stock Exchange Jeevanath Dhital are the members of the selection committee formed under Poudel's coordination.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Executive Director of SEBON Neeraj Giri and Deputy Executive Director Dr. Navraj Adhikari, Former Chief Executive Officer of Nepal Stock Exchange Sitaram Thapaliya, Former Chairman of Insurance Board Chiranjeevi Chapagain, Former Executive Director of Nepal Rastra Bank Dr. Gopal Bhatt, former administrator of Employees’ Provident Fund Krishna Prasad Acharya had applied for the post of chairman of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, Hemant Basyal, Keshav Prasad Shrestha, Anil Shrestha, Ramesh Hamal, Jeevan Amgain and Ambika Lamichhane also applied for the post. As soon as the new process started, the applications of all the 12 candidates who had applied earlier to become the chairman of the board were rejected. Now they will have to re-apply.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board is without leadership after the dismissal of Bhishma Dhungana following allegations of his involvement in the share purchase scam of Sarbottam Cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14318', 'image' => '20211231041254_20160922121316_sebon.jpg', 'article_date' => '2021-12-31 16:12:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14573', 'article_category_id' => '1', 'title' => 'DHM Forecasts More Rainfall and Snow Again ', 'sub_title' => '', 'summary' => 'December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hilly and mountainous areas in Gandaki and Province 1. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hills and mountainous areas in Gandaki and Province 1. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At present, the country is experience the influence of the westerly low pressure system and the low pressure area over the eastern region of Uttar Pradesh and around Bihar in India, the Department of Hydrology and Meteorology said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department has urged the people residing in high hills and mountainous regions of Gandaki Province and Province 1 to take precautionary measures against cold since there is a possibility of light snowfall at one or two places of those provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The weather will be partly to generally cloudy in Province 1, Bagmati and Gandaki provinces, and partly cloudy in the rest of the provinces tonight. There is possibility of light snowfall at one or two places of the high hills and mountainous region of these places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest weather update issued by the department, the minimum temperature in Kathmandu Valley was 4.5 degrees Celsius and the maximum 13.5 degrees Celsius in the last 24 hours. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Jumla recorded the lowest temperature of minus 4.5 degrees Celsius and Biratnagar the maximum of 24.7 degrees Celsius throughout the country in the last 24 hours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14317', 'image' => '20211231025645_1640938254.himpat.jpg', 'article_date' => '2021-12-31 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14575', 'article_category_id' => '1', 'title' => 'NMB Bank secures USD 12 Million in Debt Investment from SIFEM', 'sub_title' => '', 'summary' => 'December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM). SIEFM has invested for the first time in Nepal with this deal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SIFEM and NMB Bank signed the investment deal on December 28. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Issuing a joint statement, Embassy of Switzerland in Nepal and NMB Bank stated that the investment by SIFEM will be used to lend funds to local Micro Small and Medium Enterprises (MSMEs), provide access to finance and contribute to the development of the financial sector, preserve jobs, and boost the resilience of the local economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal is a focus of Switzerland’s development cooperation. The cooperation between SIFEM and SDC by leveraging expertise and synergies between Swiss institutions to advance development in Nepal is an important milestone in Switzerland’s long standing partnership with Nepal,” the statement reads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement said that the deal further assures the commitment of NMB Bank towards acquiring diversified fund sources to bolster its unique brand of sustainable banking. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14316', 'image' => '20211231042016_NMB-Bank-SIFEM-Investment-scaled.jpg', 'article_date' => '2021-12-31 16:19:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14572', 'article_category_id' => '1', 'title' => 'Nabil Bank Preparing to Acquire Nepal Bangladesh Bank', 'sub_title' => '', 'summary' => 'December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB). Both Nabil and NBB have formed a merger committee to take the process forward. Rumors were circulating about the merger between these two banks for a long time but the process had not started. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board meeting of Nabil Bank held on Wednesday, December 29 formed a merger committee under the leadership of board member Uday Krishna Upadhyaya. The committee has initiated discussions regarding the merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, CEO of Nabil Bank informed that a merger committee has been formed to hold discussions with NBB. "However, we did not form the merger committee to specifically acquire Nepal Bangladesh Bank. Discussions are on while we are also approaching other banks for acquisition," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Bangladesh Bank has also formed a merger committee. "If agreement is reached between these two banks, a joint merger committee will be formed. After that, the process will move further ahead, "said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2019, Global IME Bank acquired 'A' class Janata Bank. Likewise, other 'A' class banks including Nepal Investment Bank and Himalayan Bank are also in the process of merger. Nabil Bank and Nepal Bangladesh Bank are also preparing for the big merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nabil Bank is invested by Chaudhary Group of Nepal while IFIC Bank of Bangladesh holds shares in NBB. Binod Chaudhary, chairman of Chaudhary Group had been trying to buy shares of IFIC Bank in NBB since last year but hadn't succeeded due to various obstacles. It is said that the central bank has now removed the hurdle. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> IFIC Bank is also preparing to exit the country by selling shares of NBB. The Chaudhary Group plans to buy shares and merge the bank with Nabil Bank. The merger between these two banks have been rumored for many months. Lack of agreement on the swap ratio was preventing the merger process. There has been some unofficial agreement on the swap ratio. The final decision will be made only after conducting an asset and liability study. It is said that both the banks have also taken the DDA process forward.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The share price of NBB had hit a positive circuit on Wednesday, December 30 after the news of merger came out. The share price increased by 9.8 percent to 402 per share on Wednesday. The share price of Nabil Bank is Rs. 1450 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14315', 'image' => '20211231023530_1640908364.Untitled-2.jpg', 'article_date' => '2021-12-31 14:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14571', 'article_category_id' => '1', 'title' => 'Snowfall Disrupts Telephone and Internet Services in Villages of Myagdi', 'sub_title' => '', 'summary' => 'December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. Ward Chairman Jhak Bahadur Chhantyal informed that the telephone and internet services of Nepal Telecom have been disrupted due to the continuous snowfall since Tuesday night. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“The village has been left without communication due to the snowfall. Repairs will be done after the weather clears up,” said Wardn Chair Chhantyal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the roofs of houses have turned white due to the snowfall in Sinkos river bank area of Dhaulagiri-4 Mudi. The roofs of the houses in the river bank, Sinkos and other settlements that fall under the Dhulagiri foot trail are covered by the snow. Even the trees are covered with a blanket of snow. Although the farmers are happy with the snowfall, those who rear cattle are in trouble as they are not able to manage grass for the livestock. The upper region of Myagdi received heavy snowfall on Wednesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Bal Bahadur BK of Mudi, the locals are facing great trouble after the snow got deposited over the house. Considered as the most rural area of the district, the village of Gurja is located at an altitude of 3,220 meters above the sea level. Gurja and the areas surrounding the village received heavy snowfall. People's life in the village has become difficult due to the snowfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Children and the elderly have been most affected by the snowfall. The movement of people has come to a halt as well in Deurali and Lulang rural municipalities due to snowfall. Up to four feet deep snow has been deposited in Gurja.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14314', 'image' => '20211231125433_maxresdefault.jpg', 'article_date' => '2021-12-31 12:53:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14570', 'article_category_id' => '1', 'title' => 'Electricity Distribution Affected due to Rise in Demand', 'sub_title' => '', 'summary' => 'December 31: The high demand for electricity due to increasing cold has affected the power supply across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: The high demand for electricity due to increasing cold has affected the power supply across the country. The supply system has been affected as the electricity demand has increased in the winter and the distribution system is not able to meet the demand.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the increase in demand for electricity during winter, the supply system has become chaotic due to problems such as the burning of transformer wires, blowing of fuses, and rupture of conductors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), the peak demand for electricity has been recorded at 1,699 MW since Tuesday due to bad weather.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The demand for electricity has increased since Tuesday due to the drop in mercury level. When the average demand for electricity was 1,700 MW on Tuesday evening, many places across the country faced power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Consumers in many places complained that electricity was not been restored as of Thursday evening. According to the NEA, the problem of power outages has occurred due to the inability to meet the increased demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has already started generating 2,000 MW of electricity.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Additional electricity of 3,000 MW is being generated from hydropower projects within the next 2-3 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, the dependence on the decades-old distribution system of the Nepal Electricity Authority has caused problem in consuming the electricity generated in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEA Executive Director Kulman Ghising has been warning that the power system could be affected at any time if additional transformers are not installed in the urban areas where there is high demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The peak demand on Tuesday is the highest ever recorded in the country. However, NEA spokesperson Suresh Bahadur Bhattarai said that both the demand and consumption of electricity may have decreased as the distribution lines remain disrupted even after repairs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that the demand for electricity has increased due to the cold spell across the country but they face problem in the distribution system when the demand reaches around 1,700 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Many distribution feeders have tripped. The conductors are broken. The fuses are on fire,” said Bhattarai, who is also the head of the dispatch center in Kalanki.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, about 30 million units of electricity were consumed in the country on Tuesday alone. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to NEA, the demand was met by importing 8.9 million thousand units from NEA projects, 4.5 million units from NEA subsidiaries, 9.4 million units from the private sector, and 7.1 million units from India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/4933057.jpg" style="height:500px; width:800px" /></span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14313', 'image' => '20211231124303_www.jpg', 'article_date' => '2021-12-31 12:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14569', 'article_category_id' => '1', 'title' => 'Private Sector has Ample Space for Development in Province 1: Chief Minister Rai', 'sub_title' => '', 'summary' => 'December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the government has a small-sized budget, CM Rai emphasized on the opportunities the private sectors can get in Province 1. CM Rai said that the provincial government wants support from the private sector and its collaboration for the development of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a workshop on long-term economic development, investment promotion and role of private sector, CM Rai said that he was ready to cooperate with the private sector. The workshop was organized by the Investment Authority of Province 1 on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai clarified that he was in favor of decentralized development. He said that only physical development has been given priority in the name of development. He added that no attention has been paid to the development of the human capital as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“All of the infrastructures have been centered in one place in the name of development. Expensive hospitals have been built in cities only. The rural areas are still relying on shamans and witch doctors,” said CM Rai adding, “Development activities should focus on the development of the people at the center while the government should not promote development that does not benefit the people.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai further said that the development model should be advanced in such a way that a certain percentage of the profit earned after the construction of large industrial and technically visible development structures should be spent in the respective areas. In addition, CM Rai emphasized on the need to construct only such a development structure that seems appropriate from the environmental point of view.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Dr Ram Prasad Ghimire, the Chief Secretary of the Province 1 Government said that the work done by the government should win the trust of the people as the aspirations of the people towards development have increased due to federalism.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-30', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14312', 'image' => '20211230051652_1640775856.cm rai.jpg', 'article_date' => '2021-12-30 17:16:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14583', 'article_category_id' => '1', 'title' => 'Limitations of Online Revenue Payment Delaying Customs Clearance at Dry Port', 'sub_title' => '', 'summary' => 'January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of goods. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers said that limitations of the system of the service provider has caused inconvenience to the service seekers, especially those who have to pay more than Rs 2 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, vice-president of the Birgunj Chamber of Commerce and Industry, said that the system implemented at the dry port customs for the first time needs to be improved to make the customs clearance hassle free. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal informed that the officials of the customs department have been informed about the problems. Through this system, users can pay revenue through Connect IPS, Mobile App, Corporate Pay, NHCL Bank Center and LHCL of Nepal Clearing House. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the traders, there is more problem in paying through corporate pay under this system. This system has to be used to pay more than Rs 2 million revenue. Rajpal said that as the payment through corporate pay after 2 pm is deposited in the account of the customs department the next day only, it takes one day more for customs clearance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that as it is not possible to pay more than Rs 2 million through other means, it takes more time to check out the goods and this will increase the cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They also complained that corporate pay is functional only till 12 noon on Friday and there will be no payment on Saturday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal claims that earlier, the payment work could be done for 365 days till 6. But now, as the working time has decreased, he claims that the expense will increase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs department is planning to implement the system in all the customs offices across the country from January 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the association Pradip Kumar Kedia has suggested that the system should be implemented only after improving the drawbacks as problems were seen during the trial phase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Lal Bahadur Khatri said that the customs department has discussed with the service seekers for the facilitation and the customs administration is making efforts for resolve the problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14326', 'image' => '20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2022-01-02 15:13:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14582', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank appoints Gorakh Rana as Deputy CEO ', 'sub_title' => '', 'summary' => 'January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the bank, Rana has banking experience spanning over 27 years with a deep knowledge of Nepal’s banking industry. Rana has been representing Standard Chartered in several industries and regulatory forums.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He started his career through retail banking in 1994 and has served in positions ranging from relationship manager, senior credit manager, head of client coverage and head of global banking and commercial banking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides the post of deputy CEO, Rana is still the head of customer liaison, corporate, commercial and institutional banking in Nepal, according to a statement issued by the bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14325', 'image' => '20220102022916_1640956166.jpg', 'article_date' => '2022-01-02 14:28:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14581', 'article_category_id' => '1', 'title' => 'Nepal Airlines Plans to Purchase 32 Aircraft in 5 Years', 'sub_title' => 'Government gives Green Signal to Purchase 14 New Aircraft', 'summary' => 'January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale confirmed that he has already instructed the NAC officials to take forward the procurement of at least 14 aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister made such remarks while inaugurating the 23rd anniversary of the Civil Aviation Authority of Nepal (CAAN) on Friday (December 31).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Ale <span style="font-family:"Arial Unicode MS","sans-serif"">added that he has also asked the NAC to fly the grounded aircraft after repair and maintenance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Nepal Airlines Corporation (NAC) had recently unveiled its plan to purchase 32 new aircraft in five years which is subject to government approval.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Newly-appointed Executive Chairman of the state-owned airline company submitted a five-year strategic plan in this regard to Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale in the third week of December last year, sources said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the strategic plan, NAC will operate 14 new aircraft for international flights if the government releases budget. According to NAC, 18 aircraft will be used for domestic flights in accordance to the plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to inside sources, NAC is planning to purchase six wide-body aircraft and eight narrow-body aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The cash-strapped airline company has also demanded Rs 15 billion from the government for revitalizing the flag carrier of Nepal which is currently reeling under financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">It may be noted that NAC is facing an additional financial burden due to its inability to operate and manage six of its Chinese aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC owns six Chinese aircraft including two MA 60 and four Y-12E. The aircraft were bought for domestic flights. Nepal received one MA 60 and one Harbin Y-12E each as grant from the Chinese government. Similarly, Nepal's national flag carrier had purchased an additional MA 60 aircraft and three Harbin Y-12E aircraft from the Chinese aircraft manufacturer Avic International on concessional loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC incurred heavy financial losses while operating the Chinese aircraft due to load penalties, insurance, short-supply of spare parts, expensive parts, expensive simulator training cost among various other factors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC had been operating the Chinese aircraft for domestic flights since 2016.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC decided to stop using Chinese aircraft from July 30 after incurring losses regularly.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14324', 'image' => '20220102021803_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2022-01-02 14:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14579', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Increases to 70.5 Percent: Study', 'sub_title' => '', 'summary' => 'January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. The Industrial Status Report released by the Confederation of Nepalese Industries (CNI) shows that the capacity utilization of the industries has significantly improved in the first quarter of the current fiscal year compared to the last quarter of the previous fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, Nepali industries have utilized 70.5 percent of their total capacity till the first quarter of the current fiscal year, up from 64.8 percent in the last quarter of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report titled 'Industrial Status Report' was released by Arjun Prasad Pokharel, secretary at Ministry of Industry, Commerce and Supplies. This is the second edition of the Industrial Status Report published by CNI. The report is based on survey of 62 industries of the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The latest report shows the revenue of industries has also improved. The industries have witnessed the revenue growth of 41.15 percent in terms of income in the review period of the current fiscal year compared to the same period of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report states that 61.8 percent of the industries still depend on generators for energy which has increased the cost of the industries by five percent on a monthly basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the review period, agriculture industries have paid interest of 8.7 percent, energy industry, manufacturing industry and service industry have paid interest of 7.7 percent, 8.7 percent , and 8.2 percent respectively which is higher compared to the last fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, manufacturing industries have borrowed 54.1 percent of their working capital from banks and financial institutions. Among the industries which participated in the study, 61.7 percent stated they were ready for new investment. In the review period of the last year, 83 percent of industries were looking for new investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Meanwhile, 30.8 percent of the sampled manufacturing industries exported their goods in the first quarter of the current fiscal year, which mostly belonged to manufactured foods and textiles.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, 90 percent of the industries that applied for the Business Continuity Loan received it while 57.1 percent of industries received a refinance loan. The surveyed industries are generating employment to 22,343 people. In the review period, the service-oriented industry has generated 67.4 percent new employment opportunities followed by manufacturing industries with 25.3 percent. The share of Nepali workers in the industries surveyed stands at 94.8 percent, with the manufacturing sector having the lowest share of 90.1 percent. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Speaking at the program, Pokharel said that research conducted by the private sector would help the government in formulating policies. He said that the government would move hand in hand with the private sector for industrial development. He also expressed commitment to make necessary policy arrangements for the promotion of domestic industries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secretary Pokharel said that the government has emphasized on the promotion of innovative industries. Bishnu Kumar Agrawal, chairman of CNI, stressed on the need to formulate regional policies for industrialization and its implementation. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14323', 'image' => '20220102012710_20190201015612_sej pic (2).jpg', 'article_date' => '2022-01-02 13:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14580', 'article_category_id' => '1', 'title' => 'Government Orders Quarantine for Asymptomatic Travelers', 'sub_title' => '', 'summary' => 'January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In a letter sent to the subordinate agencies regarding the implementation of the Cabinet decisions of December 24, the Ministry of Home Affairs recently ordered to allow the entry of travelers who are fully-vaccinated at least 14 days before their arrival, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The asymptotic travelers whose 72-hours PCR tests come out negative have to be quarantined for 10 days after they enter Nepal. These rules apply for Nepali citizens and diplomatic officials as well as foreigners obtaining residential visas, RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Nepali nationals with partial vaccination or those arriving in Nepal in less than 14 days of vaccination will have to undergone antigen tests at the entry points. Those testing positive in the antigen test will be sent for quarantine, the letter further states. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such measures have been taken in the wake of Omicron variant which has been increasing in neighbouring India and some other countries. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14322', 'image' => '20220102014543_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-01-02 13:44:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14578', 'article_category_id' => '1', 'title' => 'Industrial Park Struggle Committee Submits Memo to CM Rai ', 'sub_title' => '', 'summary' => 'January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the distribution of compensation was not fair and was not determined through scientific means, Damak Industrial Park Struggle Committee reached the Chief Minister's office at Biratnagar and submitted the memo to CM Rajendra Rai to address their demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Coordinator of the Struggle Committee, Khagendra Bhattarai shared that they drew the attention of CM Rai about the real problems of the people displaced by the industrial park along with the demands of the victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/ddd.jpg" style="height:190px; width:492px" /></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Receiving the memo, CM Rai expressed commitment to take this matter to higher authorities in order to address their concerns. The Nepal-China Friendship Industrial Park was proposed to be constructed in around 2,500 bighas of land in a tri-junction of Damak Municipality, Kamal Rural Municipality and Gauradaha Municipality of Jhapa district with an investment of around Rs 65 billion from the Chinese government under the 'One Belt One Road' initiative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Locals affected by the industrial park have expressed their discontent and subsequently launched agitation by forming a struggle committee. <em>(With inputs from RSS) </em></span></span></p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14321', 'image' => '20220102103849_park.jpg', 'article_date' => '2022-01-02 10:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14577', 'article_category_id' => '1', 'title' => 'Guna Airlines to Operate Kathmandu-Surkhet Flights from Today', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: Guna Airlines has started commercial flight between Kathmandu and Surkhet from Sunday, January 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company announced flights to additional destinations with the onset of New Year 2022. As of now, only Buddha Air has been operating flights along the Kathmandu-Surkhet route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airline company confirmed that an 18-seater aircraft of Guna Airlines would begin its service from January 2. The air fare for Kathmandu-Surkhet flight has been reportedly fixed between Rs 8,545 to Rs 11,420. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the airlines will operate flights to Surkhet from Kathmandu at 8:00 am and the return flight at 9:50 am every day. The company added that the Kathmandu-Surkhet flights will be operated at 2:30 pm and the return flight at 3:50 pm effective from January 10. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14320', 'image' => '20220102080003_20210917023632_1625905050248 (1).jpg', 'article_date' => '2022-01-02 07:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14576', 'article_category_id' => '1', 'title' => 'Nepal’s Dependency on Imported Maize Seeds Increasing', 'sub_title' => 'Seeds worth Rs 7 billion imported in four months of current FY', 'summary' => '', 'content' => '<p><em>A women collecting maize in mid-western hills of Nepal in this file photo. Maize seeds are mostly imported in Nepal in recent days. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 31: Nepal imported 196,045 metric tons of maize seeds of several varieties in the first four months of the current fiscal year starting from July 16. The imported seeds were worth Rs 6.91 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The data suggests that the import of maize seeds is increasing each year in the country, indicating the nation’s dependency on this major product. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Seeds Quality Control Centre’s senior crop development and information officer Prakash Acharya said the three-tier government failed to work collaboratively for the production of hybrid maize seeds at the local and community levels. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Before the country switched to federalism, the Nepal Agricultural Research Council (NARC) was responsible for the production of maize seeds while the production of hybrid seeds was taking place at the private and community level. But now, the production of hybrid seeds at the community level is almost zero. This is due to the lack of coordination and collaboration among the three tiers of governments. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Customs, the above mentioned quantity of maize seeds was imported from Argentina, Brazil, India, Canada, South Africa, Turkey and America and the highest import (worth over Rs 62, 5570, 0000) was from India alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize is the second major crop of Nepal after rice. It is used mainly in hill areas as it gets featured in the daily meal of the people residing in those areas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, maize can be widely processed into several food varieties like dhindo (typical Nepali food made from maize flour), porridge, and so on. It can be consumed as roasted corn, popcorn and boiled corn as well. Lately it is being used as animal feed in the country. Nepal annually imports 400,000 metric tons of maize as animal or poultry feeds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Findings of various research show that the smooth supply of improved seeds would help increase the production. The existing Prime Minister Agriculture Modernization Project has given priority to maize production. The project was launched in the fiscal year 2074-75 BS. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize farming is conducted in around 900,000 hectares of land in Nepal: 11 percent in high lands, 71 percent in mid-hills and 18 percent in the Terai plains. The annual production of maize is around 2,200,000 metric tons in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14319', 'image' => '20211231043244_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2021-12-31 16:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14574', 'article_category_id' => '1', 'title' => 'Application for SEBON Chairman Reopens', 'sub_title' => '', 'summary' => 'December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government had cancelled the previous selection committee and formed a new one, which issued a fresh notice seeking applications for the post of SEBON chairman within 15 days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the appointment of chairman of the board will be done through open competition, eligible Nepalis will be able to apply for the post through the Financial Sector Management and Cooperation Coordination Division of the Ministry of Finance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Securities Act 2063, qualified Nepali citizens with high moral character, at least a post graduate degree with 7 years of professional experience in securities market management, capital market development, finance, commerce, management or legal field can apply for the post.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Earlier, a three-member selection committee was formed for the appointment of the chairman of the board on October 5 by a ministerial-level decision. However, a cabinet meeting held on November 29 decided to form another committee. The decision has courted controversy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Vishwanath Poudel is the coordinator of the new selection committee. Secretary at Ministry of Finance Madhu Kumar Marasini and former chairman of Nepal Stock Exchange Jeevanath Dhital are the members of the selection committee formed under Poudel's coordination.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Executive Director of SEBON Neeraj Giri and Deputy Executive Director Dr. Navraj Adhikari, Former Chief Executive Officer of Nepal Stock Exchange Sitaram Thapaliya, Former Chairman of Insurance Board Chiranjeevi Chapagain, Former Executive Director of Nepal Rastra Bank Dr. Gopal Bhatt, former administrator of Employees’ Provident Fund Krishna Prasad Acharya had applied for the post of chairman of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, Hemant Basyal, Keshav Prasad Shrestha, Anil Shrestha, Ramesh Hamal, Jeevan Amgain and Ambika Lamichhane also applied for the post. As soon as the new process started, the applications of all the 12 candidates who had applied earlier to become the chairman of the board were rejected. Now they will have to re-apply.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board is without leadership after the dismissal of Bhishma Dhungana following allegations of his involvement in the share purchase scam of Sarbottam Cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14318', 'image' => '20211231041254_20160922121316_sebon.jpg', 'article_date' => '2021-12-31 16:12:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14573', 'article_category_id' => '1', 'title' => 'DHM Forecasts More Rainfall and Snow Again ', 'sub_title' => '', 'summary' => 'December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hilly and mountainous areas in Gandaki and Province 1. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hills and mountainous areas in Gandaki and Province 1. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At present, the country is experience the influence of the westerly low pressure system and the low pressure area over the eastern region of Uttar Pradesh and around Bihar in India, the Department of Hydrology and Meteorology said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department has urged the people residing in high hills and mountainous regions of Gandaki Province and Province 1 to take precautionary measures against cold since there is a possibility of light snowfall at one or two places of those provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The weather will be partly to generally cloudy in Province 1, Bagmati and Gandaki provinces, and partly cloudy in the rest of the provinces tonight. There is possibility of light snowfall at one or two places of the high hills and mountainous region of these places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest weather update issued by the department, the minimum temperature in Kathmandu Valley was 4.5 degrees Celsius and the maximum 13.5 degrees Celsius in the last 24 hours. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Jumla recorded the lowest temperature of minus 4.5 degrees Celsius and Biratnagar the maximum of 24.7 degrees Celsius throughout the country in the last 24 hours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14317', 'image' => '20211231025645_1640938254.himpat.jpg', 'article_date' => '2021-12-31 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14575', 'article_category_id' => '1', 'title' => 'NMB Bank secures USD 12 Million in Debt Investment from SIFEM', 'sub_title' => '', 'summary' => 'December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM). SIEFM has invested for the first time in Nepal with this deal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SIFEM and NMB Bank signed the investment deal on December 28. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Issuing a joint statement, Embassy of Switzerland in Nepal and NMB Bank stated that the investment by SIFEM will be used to lend funds to local Micro Small and Medium Enterprises (MSMEs), provide access to finance and contribute to the development of the financial sector, preserve jobs, and boost the resilience of the local economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal is a focus of Switzerland’s development cooperation. The cooperation between SIFEM and SDC by leveraging expertise and synergies between Swiss institutions to advance development in Nepal is an important milestone in Switzerland’s long standing partnership with Nepal,” the statement reads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement said that the deal further assures the commitment of NMB Bank towards acquiring diversified fund sources to bolster its unique brand of sustainable banking. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14316', 'image' => '20211231042016_NMB-Bank-SIFEM-Investment-scaled.jpg', 'article_date' => '2021-12-31 16:19:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14572', 'article_category_id' => '1', 'title' => 'Nabil Bank Preparing to Acquire Nepal Bangladesh Bank', 'sub_title' => '', 'summary' => 'December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB). Both Nabil and NBB have formed a merger committee to take the process forward. Rumors were circulating about the merger between these two banks for a long time but the process had not started. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board meeting of Nabil Bank held on Wednesday, December 29 formed a merger committee under the leadership of board member Uday Krishna Upadhyaya. The committee has initiated discussions regarding the merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, CEO of Nabil Bank informed that a merger committee has been formed to hold discussions with NBB. "However, we did not form the merger committee to specifically acquire Nepal Bangladesh Bank. Discussions are on while we are also approaching other banks for acquisition," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Bangladesh Bank has also formed a merger committee. "If agreement is reached between these two banks, a joint merger committee will be formed. After that, the process will move further ahead, "said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2019, Global IME Bank acquired 'A' class Janata Bank. Likewise, other 'A' class banks including Nepal Investment Bank and Himalayan Bank are also in the process of merger. Nabil Bank and Nepal Bangladesh Bank are also preparing for the big merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nabil Bank is invested by Chaudhary Group of Nepal while IFIC Bank of Bangladesh holds shares in NBB. Binod Chaudhary, chairman of Chaudhary Group had been trying to buy shares of IFIC Bank in NBB since last year but hadn't succeeded due to various obstacles. It is said that the central bank has now removed the hurdle. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> IFIC Bank is also preparing to exit the country by selling shares of NBB. The Chaudhary Group plans to buy shares and merge the bank with Nabil Bank. The merger between these two banks have been rumored for many months. Lack of agreement on the swap ratio was preventing the merger process. There has been some unofficial agreement on the swap ratio. The final decision will be made only after conducting an asset and liability study. It is said that both the banks have also taken the DDA process forward.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The share price of NBB had hit a positive circuit on Wednesday, December 30 after the news of merger came out. The share price increased by 9.8 percent to 402 per share on Wednesday. The share price of Nabil Bank is Rs. 1450 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14315', 'image' => '20211231023530_1640908364.Untitled-2.jpg', 'article_date' => '2021-12-31 14:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14571', 'article_category_id' => '1', 'title' => 'Snowfall Disrupts Telephone and Internet Services in Villages of Myagdi', 'sub_title' => '', 'summary' => 'December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. Ward Chairman Jhak Bahadur Chhantyal informed that the telephone and internet services of Nepal Telecom have been disrupted due to the continuous snowfall since Tuesday night. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“The village has been left without communication due to the snowfall. Repairs will be done after the weather clears up,” said Wardn Chair Chhantyal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the roofs of houses have turned white due to the snowfall in Sinkos river bank area of Dhaulagiri-4 Mudi. The roofs of the houses in the river bank, Sinkos and other settlements that fall under the Dhulagiri foot trail are covered by the snow. Even the trees are covered with a blanket of snow. Although the farmers are happy with the snowfall, those who rear cattle are in trouble as they are not able to manage grass for the livestock. The upper region of Myagdi received heavy snowfall on Wednesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Bal Bahadur BK of Mudi, the locals are facing great trouble after the snow got deposited over the house. Considered as the most rural area of the district, the village of Gurja is located at an altitude of 3,220 meters above the sea level. Gurja and the areas surrounding the village received heavy snowfall. People's life in the village has become difficult due to the snowfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Children and the elderly have been most affected by the snowfall. The movement of people has come to a halt as well in Deurali and Lulang rural municipalities due to snowfall. Up to four feet deep snow has been deposited in Gurja.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14314', 'image' => '20211231125433_maxresdefault.jpg', 'article_date' => '2021-12-31 12:53:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14570', 'article_category_id' => '1', 'title' => 'Electricity Distribution Affected due to Rise in Demand', 'sub_title' => '', 'summary' => 'December 31: The high demand for electricity due to increasing cold has affected the power supply across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: The high demand for electricity due to increasing cold has affected the power supply across the country. The supply system has been affected as the electricity demand has increased in the winter and the distribution system is not able to meet the demand.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the increase in demand for electricity during winter, the supply system has become chaotic due to problems such as the burning of transformer wires, blowing of fuses, and rupture of conductors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), the peak demand for electricity has been recorded at 1,699 MW since Tuesday due to bad weather.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The demand for electricity has increased since Tuesday due to the drop in mercury level. When the average demand for electricity was 1,700 MW on Tuesday evening, many places across the country faced power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Consumers in many places complained that electricity was not been restored as of Thursday evening. According to the NEA, the problem of power outages has occurred due to the inability to meet the increased demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has already started generating 2,000 MW of electricity.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Additional electricity of 3,000 MW is being generated from hydropower projects within the next 2-3 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, the dependence on the decades-old distribution system of the Nepal Electricity Authority has caused problem in consuming the electricity generated in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEA Executive Director Kulman Ghising has been warning that the power system could be affected at any time if additional transformers are not installed in the urban areas where there is high demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The peak demand on Tuesday is the highest ever recorded in the country. However, NEA spokesperson Suresh Bahadur Bhattarai said that both the demand and consumption of electricity may have decreased as the distribution lines remain disrupted even after repairs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that the demand for electricity has increased due to the cold spell across the country but they face problem in the distribution system when the demand reaches around 1,700 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Many distribution feeders have tripped. The conductors are broken. The fuses are on fire,” said Bhattarai, who is also the head of the dispatch center in Kalanki.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, about 30 million units of electricity were consumed in the country on Tuesday alone. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to NEA, the demand was met by importing 8.9 million thousand units from NEA projects, 4.5 million units from NEA subsidiaries, 9.4 million units from the private sector, and 7.1 million units from India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/4933057.jpg" style="height:500px; width:800px" /></span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14313', 'image' => '20211231124303_www.jpg', 'article_date' => '2021-12-31 12:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14569', 'article_category_id' => '1', 'title' => 'Private Sector has Ample Space for Development in Province 1: Chief Minister Rai', 'sub_title' => '', 'summary' => 'December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the government has a small-sized budget, CM Rai emphasized on the opportunities the private sectors can get in Province 1. CM Rai said that the provincial government wants support from the private sector and its collaboration for the development of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a workshop on long-term economic development, investment promotion and role of private sector, CM Rai said that he was ready to cooperate with the private sector. The workshop was organized by the Investment Authority of Province 1 on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai clarified that he was in favor of decentralized development. He said that only physical development has been given priority in the name of development. He added that no attention has been paid to the development of the human capital as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“All of the infrastructures have been centered in one place in the name of development. Expensive hospitals have been built in cities only. The rural areas are still relying on shamans and witch doctors,” said CM Rai adding, “Development activities should focus on the development of the people at the center while the government should not promote development that does not benefit the people.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai further said that the development model should be advanced in such a way that a certain percentage of the profit earned after the construction of large industrial and technically visible development structures should be spent in the respective areas. In addition, CM Rai emphasized on the need to construct only such a development structure that seems appropriate from the environmental point of view.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Dr Ram Prasad Ghimire, the Chief Secretary of the Province 1 Government said that the work done by the government should win the trust of the people as the aspirations of the people towards development have increased due to federalism.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-30', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14312', 'image' => '20211230051652_1640775856.cm rai.jpg', 'article_date' => '2021-12-30 17:16:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 2: Problems related to the online payment process implemented in the trial phase by the Department of Custom at Birgunj Dry Port has added hassles in the payment process and delayed the customs clearance of goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers said that limitations of the system of the service provider has caused inconvenience to the service seekers, especially those who have to pay more than Rs 2 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, vice-president of the Birgunj Chamber of Commerce and Industry, said that the system implemented at the dry port customs for the first time needs to be improved to make the customs clearance hassle free. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal informed that the officials of the customs department have been informed about the problems. Through this system, users can pay revenue through Connect IPS, Mobile App, Corporate Pay, NHCL Bank Center and LHCL of Nepal Clearing House. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the traders, there is more problem in paying through corporate pay under this system. This system has to be used to pay more than Rs 2 million revenue. Rajpal said that as the payment through corporate pay after 2 pm is deposited in the account of the customs department the next day only, it takes one day more for customs clearance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that as it is not possible to pay more than Rs 2 million through other means, it takes more time to check out the goods and this will increase the cost. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They also complained that corporate pay is functional only till 12 noon on Friday and there will be no payment on Saturday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal claims that earlier, the payment work could be done for 365 days till 6. But now, as the working time has decreased, he claims that the expense will increase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs department is planning to implement the system in all the customs offices across the country from January 15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Former president of the association Pradip Kumar Kedia has suggested that the system should be implemented only after improving the drawbacks as problems were seen during the trial phase. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Lal Bahadur Khatri said that the customs department has discussed with the service seekers for the facilitation and the customs administration is making efforts for resolve the problems.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14326', 'image' => '20220102031417_20201230024130_1609284634.Clipboard08.jpg', 'article_date' => '2022-01-02 15:13:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14582', 'article_category_id' => '218', 'title' => 'Standard Chartered Bank appoints Gorakh Rana as Deputy CEO ', 'sub_title' => '', 'summary' => 'January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 2: Standard Chartered Bank has appointed Gorakh Rana as the bank’s Deputy CEO effective from January 1, 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to a statement issued by the bank, Rana has banking experience spanning over 27 years with a deep knowledge of Nepal’s banking industry. Rana has been representing Standard Chartered in several industries and regulatory forums.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He started his career through retail banking in 1994 and has served in positions ranging from relationship manager, senior credit manager, head of client coverage and head of global banking and commercial banking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Besides the post of deputy CEO, Rana is still the head of customer liaison, corporate, commercial and institutional banking in Nepal, according to a statement issued by the bank.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14325', 'image' => '20220102022916_1640956166.jpg', 'article_date' => '2022-01-02 14:28:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14581', 'article_category_id' => '1', 'title' => 'Nepal Airlines Plans to Purchase 32 Aircraft in 5 Years', 'sub_title' => 'Government gives Green Signal to Purchase 14 New Aircraft', 'summary' => 'January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government has given the nod to the cash-strapped Nepal Airlines Corporation (NAC) to initiate the process to purchase at least 14 new aircraft. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale confirmed that he has already instructed the NAC officials to take forward the procurement of at least 14 aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister made such remarks while inaugurating the 23rd anniversary of the Civil Aviation Authority of Nepal (CAAN) on Friday (December 31).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Ale <span style="font-family:"Arial Unicode MS","sans-serif"">added that he has also asked the NAC to fly the grounded aircraft after repair and maintenance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Nepal Airlines Corporation (NAC) had recently unveiled its plan to purchase 32 new aircraft in five years which is subject to government approval.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Newly-appointed Executive Chairman of the state-owned airline company submitted a five-year strategic plan in this regard to Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale in the third week of December last year, sources said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the strategic plan, NAC will operate 14 new aircraft for international flights if the government releases budget. According to NAC, 18 aircraft will be used for domestic flights in accordance to the plan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">According to inside sources, NAC is planning to purchase six wide-body aircraft and eight narrow-body aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The cash-strapped airline company has also demanded Rs 15 billion from the government for revitalizing the flag carrier of Nepal which is currently reeling under financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">It may be noted that NAC is facing an additional financial burden due to its inability to operate and manage six of its Chinese aircraft.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC owns six Chinese aircraft including two MA 60 and four Y-12E. The aircraft were bought for domestic flights. Nepal received one MA 60 and one Harbin Y-12E each as grant from the Chinese government. Similarly, Nepal's national flag carrier had purchased an additional MA 60 aircraft and three Harbin Y-12E aircraft from the Chinese aircraft manufacturer Avic International on concessional loan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC incurred heavy financial losses while operating the Chinese aircraft due to load penalties, insurance, short-supply of spare parts, expensive parts, expensive simulator training cost among various other factors.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC had been operating the Chinese aircraft for domestic flights since 2016.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">NAC decided to stop using Chinese aircraft from July 30 after incurring losses regularly.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14324', 'image' => '20220102021803_20200731122540_1596146267.Clipboard03.jpg', 'article_date' => '2022-01-02 14:16:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14579', 'article_category_id' => '1', 'title' => 'Capacity Utilization of Industries Increases to 70.5 Percent: Study', 'sub_title' => '', 'summary' => 'January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 2: The capacity utilization of industries is increasing significantly with the receding effects of COVID-19. The Industrial Status Report released by the Confederation of Nepalese Industries (CNI) shows that the capacity utilization of the industries has significantly improved in the first quarter of the current fiscal year compared to the last quarter of the previous fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, Nepali industries have utilized 70.5 percent of their total capacity till the first quarter of the current fiscal year, up from 64.8 percent in the last quarter of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report titled 'Industrial Status Report' was released by Arjun Prasad Pokharel, secretary at Ministry of Industry, Commerce and Supplies. This is the second edition of the Industrial Status Report published by CNI. The report is based on survey of 62 industries of the country. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The latest report shows the revenue of industries has also improved. The industries have witnessed the revenue growth of 41.15 percent in terms of income in the review period of the current fiscal year compared to the same period of the last fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The report states that 61.8 percent of the industries still depend on generators for energy which has increased the cost of the industries by five percent on a monthly basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the review period, agriculture industries have paid interest of 8.7 percent, energy industry, manufacturing industry and service industry have paid interest of 7.7 percent, 8.7 percent , and 8.2 percent respectively which is higher compared to the last fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, manufacturing industries have borrowed 54.1 percent of their working capital from banks and financial institutions. Among the industries which participated in the study, 61.7 percent stated they were ready for new investment. In the review period of the last year, 83 percent of industries were looking for new investment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Meanwhile, 30.8 percent of the sampled manufacturing industries exported their goods in the first quarter of the current fiscal year, which mostly belonged to manufactured foods and textiles.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the report, 90 percent of the industries that applied for the Business Continuity Loan received it while 57.1 percent of industries received a refinance loan. The surveyed industries are generating employment to 22,343 people. In the review period, the service-oriented industry has generated 67.4 percent new employment opportunities followed by manufacturing industries with 25.3 percent. The share of Nepali workers in the industries surveyed stands at 94.8 percent, with the manufacturing sector having the lowest share of 90.1 percent. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Speaking at the program, Pokharel said that research conducted by the private sector would help the government in formulating policies. He said that the government would move hand in hand with the private sector for industrial development. He also expressed commitment to make necessary policy arrangements for the promotion of domestic industries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secretary Pokharel said that the government has emphasized on the promotion of innovative industries. Bishnu Kumar Agrawal, chairman of CNI, stressed on the need to formulate regional policies for industrialization and its implementation. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14323', 'image' => '20220102012710_20190201015612_sej pic (2).jpg', 'article_date' => '2022-01-02 13:26:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14580', 'article_category_id' => '1', 'title' => 'Government Orders Quarantine for Asymptomatic Travelers', 'sub_title' => '', 'summary' => 'January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: The government of Nepal has decided to allow citizens of Nepal and foreigners to enter Nepal without any hassles on condition that they meet certain criteria. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">In a letter sent to the subordinate agencies regarding the implementation of the Cabinet decisions of December 24, the Ministry of Home Affairs recently ordered to allow the entry of travelers who are fully-vaccinated at least 14 days before their arrival, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The asymptotic travelers whose 72-hours PCR tests come out negative have to be quarantined for 10 days after they enter Nepal. These rules apply for Nepali citizens and diplomatic officials as well as foreigners obtaining residential visas, RSS reported. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Nepali nationals with partial vaccination or those arriving in Nepal in less than 14 days of vaccination will have to undergone antigen tests at the entry points. Those testing positive in the antigen test will be sent for quarantine, the letter further states. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such measures have been taken in the wake of Omicron variant which has been increasing in neighbouring India and some other countries. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14322', 'image' => '20220102014543_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-01-02 13:44:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14578', 'article_category_id' => '1', 'title' => 'Industrial Park Struggle Committee Submits Memo to CM Rai ', 'sub_title' => '', 'summary' => 'January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 2: A struggle committee formed to protest against the unfair compensation provided by the government for the land acquired to build the Nepal-China Industrial Friendly Park in Jhapa has submitted a memorandum to the Province 1 government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the distribution of compensation was not fair and was not determined through scientific means, Damak Industrial Park Struggle Committee reached the Chief Minister's office at Biratnagar and submitted the memo to CM Rajendra Rai to address their demand. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Coordinator of the Struggle Committee, Khagendra Bhattarai shared that they drew the attention of CM Rai about the real problems of the people displaced by the industrial park along with the demands of the victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/ddd.jpg" style="height:190px; width:492px" /></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Receiving the memo, CM Rai expressed commitment to take this matter to higher authorities in order to address their concerns. The Nepal-China Friendship Industrial Park was proposed to be constructed in around 2,500 bighas of land in a tri-junction of Damak Municipality, Kamal Rural Municipality and Gauradaha Municipality of Jhapa district with an investment of around Rs 65 billion from the Chinese government under the 'One Belt One Road' initiative. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Locals affected by the industrial park have expressed their discontent and subsequently launched agitation by forming a struggle committee. <em>(With inputs from RSS) </em></span></span></p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14321', 'image' => '20220102103849_park.jpg', 'article_date' => '2022-01-02 10:37:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14577', 'article_category_id' => '1', 'title' => 'Guna Airlines to Operate Kathmandu-Surkhet Flights from Today', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 2: Guna Airlines has started commercial flight between Kathmandu and Surkhet from Sunday, January 2. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company announced flights to additional destinations with the onset of New Year 2022. As of now, only Buddha Air has been operating flights along the Kathmandu-Surkhet route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airline company confirmed that an 18-seater aircraft of Guna Airlines would begin its service from January 2. The air fare for Kathmandu-Surkhet flight has been reportedly fixed between Rs 8,545 to Rs 11,420. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, the airlines will operate flights to Surkhet from Kathmandu at 8:00 am and the return flight at 9:50 am every day. The company added that the Kathmandu-Surkhet flights will be operated at 2:30 pm and the return flight at 3:50 pm effective from January 10. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-02', 'modified' => '2022-01-02', 'keywords' => '', 'description' => '', 'sortorder' => '14320', 'image' => '20220102080003_20210917023632_1625905050248 (1).jpg', 'article_date' => '2022-01-02 07:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14576', 'article_category_id' => '1', 'title' => 'Nepal’s Dependency on Imported Maize Seeds Increasing', 'sub_title' => 'Seeds worth Rs 7 billion imported in four months of current FY', 'summary' => '', 'content' => '<p><em>A women collecting maize in mid-western hills of Nepal in this file photo. Maize seeds are mostly imported in Nepal in recent days. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 31: Nepal imported 196,045 metric tons of maize seeds of several varieties in the first four months of the current fiscal year starting from July 16. The imported seeds were worth Rs 6.91 billion. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The data suggests that the import of maize seeds is increasing each year in the country, indicating the nation’s dependency on this major product. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Seeds Quality Control Centre’s senior crop development and information officer Prakash Acharya said the three-tier government failed to work collaboratively for the production of hybrid maize seeds at the local and community levels. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Before the country switched to federalism, the Nepal Agricultural Research Council (NARC) was responsible for the production of maize seeds while the production of hybrid seeds was taking place at the private and community level. But now, the production of hybrid seeds at the community level is almost zero. This is due to the lack of coordination and collaboration among the three tiers of governments. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Customs, the above mentioned quantity of maize seeds was imported from Argentina, Brazil, India, Canada, South Africa, Turkey and America and the highest import (worth over Rs 62, 5570, 0000) was from India alone. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize is the second major crop of Nepal after rice. It is used mainly in hill areas as it gets featured in the daily meal of the people residing in those areas. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, maize can be widely processed into several food varieties like dhindo (typical Nepali food made from maize flour), porridge, and so on. It can be consumed as roasted corn, popcorn and boiled corn as well. Lately it is being used as animal feed in the country. Nepal annually imports 400,000 metric tons of maize as animal or poultry feeds. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> Findings of various research show that the smooth supply of improved seeds would help increase the production. The existing Prime Minister Agriculture Modernization Project has given priority to maize production. The project was launched in the fiscal year 2074-75 BS. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Maize farming is conducted in around 900,000 hectares of land in Nepal: 11 percent in high lands, 71 percent in mid-hills and 18 percent in the Terai plains. The annual production of maize is around 2,200,000 metric tons in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14319', 'image' => '20211231043244_20200512091924_20190527010000_Makai.jpg', 'article_date' => '2021-12-31 16:31:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14574', 'article_category_id' => '1', 'title' => 'Application for SEBON Chairman Reopens', 'sub_title' => '', 'summary' => 'December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: The government has reopened application for the post of chairman of Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government had cancelled the previous selection committee and formed a new one, which issued a fresh notice seeking applications for the post of SEBON chairman within 15 days. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the appointment of chairman of the board will be done through open competition, eligible Nepalis will be able to apply for the post through the Financial Sector Management and Cooperation Coordination Division of the Ministry of Finance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Securities Act 2063, qualified Nepali citizens with high moral character, at least a post graduate degree with 7 years of professional experience in securities market management, capital market development, finance, commerce, management or legal field can apply for the post.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Earlier, a three-member selection committee was formed for the appointment of the chairman of the board on October 5 by a ministerial-level decision. However, a cabinet meeting held on November 29 decided to form another committee. The decision has courted controversy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Vishwanath Poudel is the coordinator of the new selection committee. Secretary at Ministry of Finance Madhu Kumar Marasini and former chairman of Nepal Stock Exchange Jeevanath Dhital are the members of the selection committee formed under Poudel's coordination.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Executive Director of SEBON Neeraj Giri and Deputy Executive Director Dr. Navraj Adhikari, Former Chief Executive Officer of Nepal Stock Exchange Sitaram Thapaliya, Former Chairman of Insurance Board Chiranjeevi Chapagain, Former Executive Director of Nepal Rastra Bank Dr. Gopal Bhatt, former administrator of Employees’ Provident Fund Krishna Prasad Acharya had applied for the post of chairman of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, Hemant Basyal, Keshav Prasad Shrestha, Anil Shrestha, Ramesh Hamal, Jeevan Amgain and Ambika Lamichhane also applied for the post. As soon as the new process started, the applications of all the 12 candidates who had applied earlier to become the chairman of the board were rejected. Now they will have to re-apply.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board is without leadership after the dismissal of Bhishma Dhungana following allegations of his involvement in the share purchase scam of Sarbottam Cement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14318', 'image' => '20211231041254_20160922121316_sebon.jpg', 'article_date' => '2021-12-31 16:12:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14573', 'article_category_id' => '1', 'title' => 'DHM Forecasts More Rainfall and Snow Again ', 'sub_title' => '', 'summary' => 'December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hilly and mountainous areas in Gandaki and Province 1. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 31: The weather will be partly cloudy throughout the country today (December 31) with chances of light snowfall at one or two places of the high hills and mountainous areas in Gandaki and Province 1. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At present, the country is experience the influence of the westerly low pressure system and the low pressure area over the eastern region of Uttar Pradesh and around Bihar in India, the Department of Hydrology and Meteorology said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department has urged the people residing in high hills and mountainous regions of Gandaki Province and Province 1 to take precautionary measures against cold since there is a possibility of light snowfall at one or two places of those provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The weather will be partly to generally cloudy in Province 1, Bagmati and Gandaki provinces, and partly cloudy in the rest of the provinces tonight. There is possibility of light snowfall at one or two places of the high hills and mountainous region of these places. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the latest weather update issued by the department, the minimum temperature in Kathmandu Valley was 4.5 degrees Celsius and the maximum 13.5 degrees Celsius in the last 24 hours. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Jumla recorded the lowest temperature of minus 4.5 degrees Celsius and Biratnagar the maximum of 24.7 degrees Celsius throughout the country in the last 24 hours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14317', 'image' => '20211231025645_1640938254.himpat.jpg', 'article_date' => '2021-12-31 14:55:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14575', 'article_category_id' => '1', 'title' => 'NMB Bank secures USD 12 Million in Debt Investment from SIFEM', 'sub_title' => '', 'summary' => 'December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: NMB Bank Limited has secured a USD 12 million debt investment deal with the Swiss Investment Fund for Emerging Markets (SIFEM). SIEFM has invested for the first time in Nepal with this deal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">SIFEM and NMB Bank signed the investment deal on December 28. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Issuing a joint statement, Embassy of Switzerland in Nepal and NMB Bank stated that the investment by SIFEM will be used to lend funds to local Micro Small and Medium Enterprises (MSMEs), provide access to finance and contribute to the development of the financial sector, preserve jobs, and boost the resilience of the local economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal is a focus of Switzerland’s development cooperation. The cooperation between SIFEM and SDC by leveraging expertise and synergies between Swiss institutions to advance development in Nepal is an important milestone in Switzerland’s long standing partnership with Nepal,” the statement reads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement said that the deal further assures the commitment of NMB Bank towards acquiring diversified fund sources to bolster its unique brand of sustainable banking. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14316', 'image' => '20211231042016_NMB-Bank-SIFEM-Investment-scaled.jpg', 'article_date' => '2021-12-31 16:19:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14572', 'article_category_id' => '1', 'title' => 'Nabil Bank Preparing to Acquire Nepal Bangladesh Bank', 'sub_title' => '', 'summary' => 'December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 31: Nabil Bank has started preparations to acquire Nepal Bangladesh Bank (NBB). Both Nabil and NBB have formed a merger committee to take the process forward. Rumors were circulating about the merger between these two banks for a long time but the process had not started. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board meeting of Nabil Bank held on Wednesday, December 29 formed a merger committee under the leadership of board member Uday Krishna Upadhyaya. The committee has initiated discussions regarding the merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, CEO of Nabil Bank informed that a merger committee has been formed to hold discussions with NBB. "However, we did not form the merger committee to specifically acquire Nepal Bangladesh Bank. Discussions are on while we are also approaching other banks for acquisition," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Bangladesh Bank has also formed a merger committee. "If agreement is reached between these two banks, a joint merger committee will be formed. After that, the process will move further ahead, "said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In 2019, Global IME Bank acquired 'A' class Janata Bank. Likewise, other 'A' class banks including Nepal Investment Bank and Himalayan Bank are also in the process of merger. Nabil Bank and Nepal Bangladesh Bank are also preparing for the big merger.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nabil Bank is invested by Chaudhary Group of Nepal while IFIC Bank of Bangladesh holds shares in NBB. Binod Chaudhary, chairman of Chaudhary Group had been trying to buy shares of IFIC Bank in NBB since last year but hadn't succeeded due to various obstacles. It is said that the central bank has now removed the hurdle. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> IFIC Bank is also preparing to exit the country by selling shares of NBB. The Chaudhary Group plans to buy shares and merge the bank with Nabil Bank. The merger between these two banks have been rumored for many months. Lack of agreement on the swap ratio was preventing the merger process. There has been some unofficial agreement on the swap ratio. The final decision will be made only after conducting an asset and liability study. It is said that both the banks have also taken the DDA process forward.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The share price of NBB had hit a positive circuit on Wednesday, December 30 after the news of merger came out. The share price increased by 9.8 percent to 402 per share on Wednesday. The share price of Nabil Bank is Rs. 1450 per share.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14315', 'image' => '20211231023530_1640908364.Untitled-2.jpg', 'article_date' => '2021-12-31 14:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14571', 'article_category_id' => '1', 'title' => 'Snowfall Disrupts Telephone and Internet Services in Villages of Myagdi', 'sub_title' => '', 'summary' => 'December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: Telephone and internet services in Gurja of Dhaulagiri Municipality-1 of Myagdi district have been disrupted due to rainfall and snow for the past two days. Ward Chairman Jhak Bahadur Chhantyal informed that the telephone and internet services of Nepal Telecom have been disrupted due to the continuous snowfall since Tuesday night. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“The village has been left without communication due to the snowfall. Repairs will be done after the weather clears up,” said Wardn Chair Chhantyal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the roofs of houses have turned white due to the snowfall in Sinkos river bank area of Dhaulagiri-4 Mudi. The roofs of the houses in the river bank, Sinkos and other settlements that fall under the Dhulagiri foot trail are covered by the snow. Even the trees are covered with a blanket of snow. Although the farmers are happy with the snowfall, those who rear cattle are in trouble as they are not able to manage grass for the livestock. The upper region of Myagdi received heavy snowfall on Wednesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Bal Bahadur BK of Mudi, the locals are facing great trouble after the snow got deposited over the house. Considered as the most rural area of the district, the village of Gurja is located at an altitude of 3,220 meters above the sea level. Gurja and the areas surrounding the village received heavy snowfall. People's life in the village has become difficult due to the snowfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Children and the elderly have been most affected by the snowfall. The movement of people has come to a halt as well in Deurali and Lulang rural municipalities due to snowfall. Up to four feet deep snow has been deposited in Gurja.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14314', 'image' => '20211231125433_maxresdefault.jpg', 'article_date' => '2021-12-31 12:53:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14570', 'article_category_id' => '1', 'title' => 'Electricity Distribution Affected due to Rise in Demand', 'sub_title' => '', 'summary' => 'December 31: The high demand for electricity due to increasing cold has affected the power supply across the country.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 31: The high demand for electricity due to increasing cold has affected the power supply across the country. The supply system has been affected as the electricity demand has increased in the winter and the distribution system is not able to meet the demand.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the increase in demand for electricity during winter, the supply system has become chaotic due to problems such as the burning of transformer wires, blowing of fuses, and rupture of conductors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Electricity Authority (NEA), the peak demand for electricity has been recorded at 1,699 MW since Tuesday due to bad weather.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The demand for electricity has increased since Tuesday due to the drop in mercury level. When the average demand for electricity was 1,700 MW on Tuesday evening, many places across the country faced power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Consumers in many places complained that electricity was not been restored as of Thursday evening. According to the NEA, the problem of power outages has occurred due to the inability to meet the increased demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has already started generating 2,000 MW of electricity.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Additional electricity of 3,000 MW is being generated from hydropower projects within the next 2-3 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, the dependence on the decades-old distribution system of the Nepal Electricity Authority has caused problem in consuming the electricity generated in the country.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEA Executive Director Kulman Ghising has been warning that the power system could be affected at any time if additional transformers are not installed in the urban areas where there is high demand for electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The peak demand on Tuesday is the highest ever recorded in the country. However, NEA spokesperson Suresh Bahadur Bhattarai said that both the demand and consumption of electricity may have decreased as the distribution lines remain disrupted even after repairs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that the demand for electricity has increased due to the cold spell across the country but they face problem in the distribution system when the demand reaches around 1,700 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Many distribution feeders have tripped. The conductors are broken. The fuses are on fire,” said Bhattarai, who is also the head of the dispatch center in Kalanki.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, about 30 million units of electricity were consumed in the country on Tuesday alone. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to NEA, the demand was met by importing 8.9 million thousand units from NEA projects, 4.5 million units from NEA subsidiaries, 9.4 million units from the private sector, and 7.1 million units from India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/4933057.jpg" style="height:500px; width:800px" /></span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-31', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14313', 'image' => '20211231124303_www.jpg', 'article_date' => '2021-12-31 12:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14569', 'article_category_id' => '1', 'title' => 'Private Sector has Ample Space for Development in Province 1: Chief Minister Rai', 'sub_title' => '', 'summary' => 'December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 30: Chief Minister of Province 1, Rajendra Kumar Rai has stated that the provincial government is ready to give ample support and space to the private sector for the development of the province. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the government has a small-sized budget, CM Rai emphasized on the opportunities the private sectors can get in Province 1. CM Rai said that the provincial government wants support from the private sector and its collaboration for the development of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a workshop on long-term economic development, investment promotion and role of private sector, CM Rai said that he was ready to cooperate with the private sector. The workshop was organized by the Investment Authority of Province 1 on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai clarified that he was in favor of decentralized development. He said that only physical development has been given priority in the name of development. He added that no attention has been paid to the development of the human capital as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“All of the infrastructures have been centered in one place in the name of development. Expensive hospitals have been built in cities only. The rural areas are still relying on shamans and witch doctors,” said CM Rai adding, “Development activities should focus on the development of the people at the center while the government should not promote development that does not benefit the people.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">CM Rai further said that the development model should be advanced in such a way that a certain percentage of the profit earned after the construction of large industrial and technically visible development structures should be spent in the respective areas. In addition, CM Rai emphasized on the need to construct only such a development structure that seems appropriate from the environmental point of view.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Dr Ram Prasad Ghimire, the Chief Secretary of the Province 1 Government said that the work done by the government should win the trust of the people as the aspirations of the people towards development have increased due to federalism.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-30', 'modified' => '2021-12-31', 'keywords' => '', 'description' => '', 'sortorder' => '14312', 'image' => '20211230051652_1640775856.cm rai.jpg', 'article_date' => '2021-12-30 17:16:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
